A U.S. District Judge imposed bail at $40 million for Alexander Mashinsky, the founder and former CEO of the bankrupt crypto lender Celsius, after he was arrested on fraud charges on Thursday.
Mashinsky, who was arrested on Thursday, pleaded not guilty to seven counts of deceiving investors and manipulating the price of his CEL cryptocurrency, according to the court document.
Under the terms of the agreement, Mashinsky will be barred from travelling and will be unable to register new bank or cryptocurrency accounts.
On Thursday, the Department of Justice, the Federal Trade Commission, and federal securities and commodities regulators announced a coordinated action against Mashinsky and other officials.
